Starbucks to open 1,500 new stores in U.S. by 2017

New York -- Starbucks Coffee Co. is moving ahead full-steam. The company on Wednesday announced accelerated global growth plans that include opening at least 1,500 stores in the United States during the next five years. Including Canada and South America in the mix, Starbucks expects to add a total of 3,000 new locations in its Americas region — and renovate thousands more — by 2017.

Speaking at Starbucks’ 2012 Investor Conference, Cliff Burrows, president of Starbucks Americas and U.S., also announced plans to leverage the company’s recently completed Evolution Fresh and La Boulange acquisitions by making La Boulange products available in more than 2,500 U.S. company-operated Starbucks stores and making Evolution Fresh juices available in more than 5,000 U.S. company-operated stores by the end of 2013.

Starbucks is also looking to take a leadership position in the global tea market with its intended acquisition of Teavana. Once the deal is complete, Starbucks plans to continue to grow Teavana’s 300 mall-based stores, as well as add a high-profile neighborhood store concept that will accelerate Teavana’s domestic and global footprint.

On the global front, the company announced that China is on track to become its largest market outside of the U.S. in 2014. The company is on plan to have 1,500 stores in 70 cities throughout the country in 2015. In the overall China and Asia-Pacific region, Starbucks will approach 4,000 stores by the end of 2013, including its first store in Vietnam.

The company also reaffirmed plans to open its first store in Delhi, India, in early 2013, following the successful opening of its first three locations in Mumbai, India, in October 2012.

“Starbucks business and brand have never been healthier, and as a company we have never been better positioned to execute against our global, multichannel growth agenda,” Starbucks chairman, president and CEO Howard Schultz said at the company’s conference. “Starbucks will have more than 20,000 retail stores on six continents by 2014 and more than 200,000 points of global CPG distribution by 2015

On the digital front, Starbucks expects its mobile payment platform to account for 10% of payments in Starbucks U.S. stores by the end of fiscal 2013.

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